Statutory guidance: Russia sanctions: guidance

The UK’s Office of Financial Sanctions Implementation (OFSI) has provided an overview of the sanctions framework currently active under the Russia (Sanctions) (EU Exit) Regulations 2019. This regime targets specific individuals, businesses, and organizations, as well as certain vessels identified on the UK Sanctions List. Measures against designated persons include asset freezes, travel bans, director disqualifications, and restrictions on providing internet services or economic resources.

The regulations also impose broader financial and trade restrictions on "persons connected with Russia" and activities involving Russian territory or non-government-controlled parts of Ukraine, such as the Donetsk, Kherson, Luhansk, and Zaporizhzhia oblasts. These measures include prohibitions on certain investments, loans, credit, and insurance services. Additionally, the framework bans specific financial dealings with the Russian Government and sanctioned Russian banks, alongside restrictions on providing professional services to connected entities.

Trade sanctions prohibit the export of various high-priority goods to Russia, including military, dual-use, and critical-industry technologies, as well as items related to aviation, space, quantum computing, and energy. The list also covers luxury goods, banknotes, and specific machinery or chemical products. Conversely, the UK prohibits the import of certain Russian-origin goods, such as iron, steel, gold, diamonds, and various metals, to prevent the generation of revenue for the Russian state.

Further restrictions target the energy and transport sectors. The UK has implemented a ban on importing Russian oil, coal, and liquefied natural gas, with maritime transport of certain oil products subject to the Oil Price Cap (OPC). Transport sanctions also empower authorities to prevent specified ships and Russian aircraft from entering UK ports or airspace.